Pinnacle Gives Up.....

[Dunbar]

Originally Posted by Scav

1) I wouldn't TRUST a single online sportsbook for a while. Others will not be as trustworthy as Pinnacle is being. I would get out NOW of places like 5Dimes, Greek, BetCris. Even though they are probably still accepting wagers, it won't be as easy as Pinnacle is making it to get your money.

2) Dunbar knows ALOT about online companies and online wagering, so he will be the first person to know about an alternative

3) Something had to happen at the WTO as Antiqua was fighting that bill, and for them to immediately pull out like they did, during their biggest gross wagering time of the year, doesn't bode well for the industry, whatsoever.

4) Dunbar, FIND ME A REBATE SHOP......

Scavs, you make an excellent point about Pinnacle giving up right before the biggest betting event of the year. I would not be concerned at all about other books if this had happened right after the SuperBowl. The fact that Pinnacle is giving up on that volume of action is hard to understand.

Still, I am not excessively concerned about TheGreek and CRIS. These two books have been solid from before Pinnacle became the dominant market force, and I have to think that in the longrun Pinnacle's departure will help the bottom line of shops like TheGreek and CRIS that do not offer discount vig.

5Dimes has always seemed very well run, but they have never had the reputation of CRIS or TheGreek. I would be very conservative with my balance at 5Dimes over the next few months. I would not hesitate to use them, however.

In the short term, the post-Superbowl period is the shakiest period for sportsbooks EVEN UNDER NORMAL CIRCUMSTANCES. Therefore, I would advise getting out of everywhere now, and not going back in until a month after the Superbowl. By that time, it will be clear which books have weathered the inevitable storm.

If CRIS and 5Dimes have survived, I would not hesitate to get back into those books at that time.

5Dimes and CRIS are the best alternatives to Pinnacle. 5Dimes's 10% bonus on winning exotic and win bets is better than Pinnacle's 7% rebate, pretty much regardless of how good of a capper you are. HOWEVER, the 5Dimes bonus does not appy to place and show bets, and it only applies to tracks that 5Dimes lists as "major". The most glaring omission from that list of "major" tracks is Oaklawn Park. Another downside of 5Dimes is that they close betting about 2 minutes before post.

CRIS pays rebates in a similar fashion that Pinnacle did. CRIS pays 8% on all exotics and 3% on WPS, but no rebate on place/show payoffs of $2.20 or less. So CRIS was already much better than Pinnacle on exotics at NY tracks, but is not nearly as good as Pinnacle on WPS, especially at non-NY tracks.

--Dunbar